BoomRay Pharma Licenses Preclinical Radioligand Asset to Novartis in Deal Worth Up to $900 Million

BoomRay Pharmaceuticals Co., Ltd. announced an exclusive global license agreement with Novartis Pharma AG (NVS) on Sept. 22, 2026, covering an undisclosed preclinical radioligand therapy asset. The deal is valued at up to $900 million, tied to development and commercial milestones, according to RTTNews. Under the terms, Novartis gains worldwide rights to develop and commercialize the asset, while BoomRay retains undisclosed financial participation. Specific upfront payments, milestone structure, and royalty rates were not disclosed. BoomRay is a clinical-stage biotechnology company focused on radiopharmaceutical development. Novartis has expanded its radioligand portfolio in recent years through similar licensing and acquisition deals, targeting oncology indications.